Kelly Criterion For Sports Betting

Due to the disadvantages and risks associated with the system, many variants have been created. The most well-known variant is known as the fractional Kelly. This variant entails that you must reduce your bet at a certain percentage of the core system. It could be that you reduce the percentage by half or more, but the important thing is that the percentage decrease is constant and the same decrease should apply to all your bets. (more…)

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Sports Betting For Dummies Cheat Sheet

They may reduce their take from 15–18% to as little as 1–2%, while still generating a profit by operating with minimal overhead. The parimutuel system is used in gambling on horse racing, greyhound racing, jai alai, and all sporting events of relatively short duration in which participants finish in a ranked order. A modified parimutuel system is also used in some lottery games. If you have ever played craps, you may have heard many strange and odd terms used throughout the game. (more…)

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